Page 14 - EurOil Week 09 2022

EurOil NEWS IN BRIEF EurOil

16. to boost the share of foreign stations in the Bulgaria freezes sale of
Orban discussed energy sovereignty entire network from 37 to 45% and operate
in Central and Eastern Europe and the 3,500 stations in the CEE region by 2030, gas from Chiren storage to
strengthening of the North-South energy according to Polish press reports.
corridor with MOL chairman and CEO PKN Orlen sees Ebitda rising 1.5 times to prepare for escalation of
Zsolt Hernadi and PKN Orlen chairman PLN5bn (€1.1bn) by 2030..
Daniel Obajtek, said Viktor Orban’s press Russia-Ukraine conflict
spokesperson Bertalan Havasi.
The talks also touched on a recently Montenegro’s finance Bulgaria decided to temporarily stop the
announced deal between the companies that sale of natural gas from its Chiren storage as
will give MOL 417 petrol stations in Poland ministry proposes legislation part of the measures it is taking to prepare in
and PKN Orlen 185 petrol stations in case of an escalation of the Russia-Ukraine
Hungary and Slovakia. When the transaction changes to lower excise conflict, Prime Minister Kiril Petkov told
is closed, MOL will become the third-biggest reporters as quoted by Mediapool news
player on Poland’s retail vehicle fuel market, duties on fuels outlet.
while PKN Orlen will be the fourth-biggest The country imports almost all its natural
in Hungary with a 7% share of the retail Montenegro’s finance ministry will propose gas from Russia and could have issues with
market. legislation changes that would allow the supplies in case of war or sanctions. To
PKN Orlen already controls 5% of the government to reduce the excise duties prevent an energy crisis, the government
Hungarian wholesale market. on fuels, the ministry’s secretary Branko is working on a plan to secure additional
Orban said the Hungarian government Krvavac wrote on Twitter on February 16. sources.
hails MOL’s acquisition in Poland and Fuel prices have reached record-high Petkov said that the authorities are
welcomes Polish investors in Hungary. The levels in Montenegro in the past weeks and looking for options to store additional
deal will give impetus to the traditionally the government has already attempted to natural gas, including liquified natural gas
strong ties between Hungary and Poland, seek parliament’s approval for legislation from Greece.
as well as foster co-operation among the changes that would allow the reduction of Bulgaria is also seeking approval from the
Visegrad Group (Hungary, Poland, Czechia duties. EU to temporary lower its electricity exports
and Slovakia) and the development of the “This was the decision of the Ministry in case Russia freezes all gas supplies.
Central and Eastern European economy, of Finance and Social Welfare in December
he added. The sides agreed that Hungarian when the parliament has turned it down.
and Polish consumers will benefit from the Should they have adopted it, we would have
transaction. been able to help citizens already,” Krvavac
PKN Orlen announced that it is planning wrote.
further expansion in the region and He added that the previous DPS-led
development of the retail segment, government increased the excise duties.
Under its 2030 strategy, PKN Orlen wants

P14 www. NEWSBASE .com Week 09 04•March•2022